With a tagline of "ghosts don't move out," "Foreclosure" sets its action in a nearly empty, economically depressed neighborhood block, amid the real-life context of the mortgage crisis where so many homes are bank-owned.

Ged Dickersin ("City Island") is producing the project, which Ledes will begin shooting in Queens next week.

"Michael Imperioli is a great actor with a deep understanding of filmmaking," said Ledes. "Like a jazz ensemble, I can't imagine a better artist to join the two cats with whom I've had the privilege to work previously and who are back for 'Foreclosure': Wendell Pierce and Bill Raymond."

Reppedby UTA and TMT Entertainment Group, Imperioli most recently appeared in "The Lovely Bones." He also co-wrote the screenplay for "Summer of Sam" and wrote and directed "The Hungry Ghosts."

New York-based Ledes has written and directed the films "A Hole in One" and "The Caller," both of which had their world premieres at the Tribeca Film Festival.